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yup. PCFC. but imho, they only lend to rural areas.

 

If there is someone here who has a good bite

as to what the mechanism of micro lending

is I would appreciate an elaboration on it. In my

peasant understanding of this parang pa hiraman lang

ng Bumbay but better rates than 5/6.

 

Considering how micro lending has made a novel

mark on UN workers around the world specially in

Africa and in East Asia, I do not know of any forum

That discusses this in a very lucid way and give us

some lead on how to participate. It can improve lives

on very poor neighborhoods and that really interests me.

 

 

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  • 2 weeks later...
If there is someone here who has a good bite

as to what the mechanism of micro lending

is I would appreciate an elaboration on it. In my

peasant understanding of this parang pa hiraman lang

ng Bumbay but better rates than 5/6.

 

Considering how micro lending has made a novel

mark on UN workers around the world specially in

Africa and in East Asia, I do not know of any forum

That discusses this in a very lucid way and give us

some lead on how to participate. It can improve lives

on very poor neighborhoods and that really interests me.

 

 

pwede po magrequest ng list ng nagoofer ng microfinance at interst rates po nila?

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  • 8 years later...

its a lucrative business.

 

do you lend your money to a complete stranger? of course not.

 

so its thru referrals. someone will need to vouch for you. someone needs to cover the sum borrowed if things go south.

 

interest rates and payment terms and schedule of payments all are flexible depending on the borrowers capability, assets, collaterals etc.

 

some lending companies anchor themselves to your salary, sss benefits etc.

 

some are syndicates. they break your legs if cant pay. hehehe

 

some are legit. they charge high. higher than bank rates due to the risk involved.

 

a lot fail in paying the loaned amount in time. usually they are charged. police come. court hearing. settlement. if settlement fails. lengthy jail time and bad record (usually estafa or theft case, depends sa lawyer)

 

those who run well, your collateral will be taken to court for claim.

 

for people who want to engage in lending, dami naman short courses para dun. ask google please.

 

for those who want to borrow money. do ask yourself first, where will you spend the money. if you are going to use it personally, (pambayad utang, pambayad meralco, bili bago bike, vacation trips) dont think of borrowing. the interest will k*ll you. this money is meant for businesses that need capital and can earn back more than the borrowed amount. thats why lending survives. for employees earning monthly salary, kulang na yun sinusweldo uutang. ofcourse mabaon sa utang. pag under sa dami expenses, consider changing your lifestyle first. rather car, mag taxi, rather than mag taxi, mag jeep. kay jollibee, mag carinderia na lang, rather than carinderia, mag baon na lang.

 

for those who want to do business... well... thats another discussion :)

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  • 8 months later...
  • 3 years later...
On 11/15/2017 at 11:20 AM, blue+george said:

its a lucrative business.

 

do you lend your money to a complete stranger? of course not.

 

so its thru referrals. someone will need to vouch for you. someone needs to cover the sum borrowed if things go south.

 

interest rates and payment terms and schedule of payments all are flexible depending on the borrowers capability, assets, collaterals etc.

 

some lending companies anchor themselves to your salary, sss benefits etc.

 

some are syndicates. they break your legs if cant pay. hehehe

 

some are legit. they charge high. higher than bank rates due to the risk involved.

 

a lot fail in paying the loaned amount in time. usually they are charged. police come. court hearing. settlement. if settlement fails. lengthy jail time and bad record (usually estafa or theft case, depends sa lawyer)

 

those who run well, your collateral will be taken to court for claim.

 

for people who want to engage in lending, dami naman short courses para dun. ask google please.

 

for those who want to borrow money. do ask yourself first, where will you spend the money. if you are going to use it personally, (pambayad utang, pambayad meralco, bili bago bike, vacation trips) dont think of borrowing. the interest will k*ll you. this money is meant for businesses that need capital and can earn back more than the borrowed amount. thats why lending survives. for employees earning monthly salary, kulang na yun sinusweldo uutang. ofcourse mabaon sa utang. pag under sa dami expenses, consider changing your lifestyle first. rather car, mag taxi, rather than mag taxi, mag jeep. kay jollibee, mag carinderia na lang, rather than carinderia, mag baon na lang.

 

for those who want to do business... well... thats another discussion :)

Great idea! I am actually doing this.

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